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. these are your headlines from around the world. >> with just one week to go before the u.s. economy goes over the fiscal cliff, lawmakers are pointing fingers and playing the blame game. >> mario monti is saying he's available to lead italy. he'll run for office in the upcoming election, but only for a party willing to push his agenda. >>> but he has competition in the form of sylvia berlusconi. he tells cnbc he feels a responsibility to run. >> feel the need to return to the political arena to prevent the country from being delivered into the hands of a leftist party. >> and the crowds are out, the stores are ringing up those sales, but u.s. shoppers may be running low on holiday spirit. and analysts say that they're spending less, as well. hi, everybody. welcome. merry christmas out there. thank you for joining us here on the show. what we're looking at today, we've got slightly quiet markets ahead of the u.s. open. what we're seeing, though, that all the markets are being called lower across the board stateside. the dow is being called a bit lower, nasdaq is being called a bit lower and th
us and we're going to get a deal that has some integrity. and i've said before, if we get anything that makes meaningful step towards fixing our fiscal problem, you're going to see the market go up a couple thousand points. i think that is a, you know, 20% chance in 2013. i think we could really go some place, if politicians show some leadership. >> that's only 20% that they have integrity. >> yeah, yeah. that's up from earlier today. >> thank you, john, thank you guys for being with us today. make sure you join us on monday. "squawk on the street" begins right now. ♪ >>> good friday morning. welcome to "squawk on the street" on this final friday trading session of the year. i'm carl quintanilla at the new york stock exchange, along with melissa lee. >> that's a good song. >> i actually requested that a few moments ago. cramer and faber had the day off. the market has a few jitters as we enter what is going to be an interesting day. of course, the meeting at the white house, 3:00 between the president and some congressional leaders. as for europe, getting some data out of japan o
they are investing from pre-k through college. there will have more in china and any of them the entire u.s. work force. we're focused on a global economy. those from harvard are competing globally with students from china, germany, brazil. tavis that transform the way we think about education? do you think your role as straining american leaders? are you looking at attracting global leaders? >> there are so many questions. let me address a few of them. there are numerous kind of statistics that we have a preeminence of college graduates in our populations and levels of participation. we are losing this. we have once last three of the world's college graduates. that is an interesting illustration of a shift in the dynamism. i see this when i travel. a huge commitment to public resources. huge energy to enthusiasm of higher education. india wants 1500 new universities by 2020. alicia's in a meeting about hong kong this week. i learned that hong kong university is expanding undergraduate education from three years to four years because they think it is not giving students enough time. there are all
're very excited about it. >> dan, thank you. thanks for the work you're doing. appreciate you joining us today. have great weekend, everybody. right now it's time for "squawk on the street." >> up 146,000, that's the jobs numbers for november. unemployment at 7.7. that's the lowest in exactly four years. good morning. welcome to "squawk on the street." i'm carlos gutierrez with jim cramer, david faber and melissa lee. questions remain about the internals. europe is reacting to a miss on german industrial production and some reports at least that some ecb members favored a rate cut yesterday. our road map will go like this. that puzzling jobs number beating virtually every wall street estimate as the labor department says sandy had only a minimal effect. is it true a clean number and what are conspiracy theorists saying. >>> a comment hastings made last july. what does it say about s.e.c. rules and whether they are out of date. >> mcdonald's will post same store sales on monday gets an upgrade to buy taking the forecast to a street high after surveying franchisees. we begin with november
-bowles. erskin bowles will join us this morning, as well. if you have the democrats quoting him, the republicans quoting him, we'll very where he comes down and where things stand right now. >> you do simpson-bowles now instead of the bowls-simpson? >> i looked it up on going.. the more often cited is simple is son-bowles. >> the journal has an interesting piece. they don't like corker for breaking rank. they say why are republicans negotiating this themselves? they say let boehner do the negotiations. anyway, you would be hard pressed to find something who sdn have aen opinion on the fiscal cliff. this weekend, the ahead of the imf said the united states is more vulnerable to its domestic trouble more than anything else happening in the eurozone. christine lagarde says a balanced approach is needed and she says don't kick the can down the road, which is rich coming from a european. >>> european trading the lower this morning. italy's prime minister mario monti, yes, the same one that is famous from all the anti-trust things back in the -- was that the '90s? >> the '90s, yeah. >> monti announcin
. it is a crazy story we've been talking about for the past two weeks. john mcafee will be joining us live on camera at 8:40 a.m. eastern. we're going to get the latest chapter in this mystery that has murder, mayhem and suspension. his life is the movie of the week, if you will, and we will have it live right here at 8:40. please, do not miss that. let's get you caught up on some of the other headlines this morning. house speaker john boehner and president obama met for the second time this week. both parties are trying to avoid the fiscal cliff. the men had a frank discussion and the lines of communication remain open, although no specific details were released. the meeting came after frustration in washington. this was house speaker boehner earlier in the day. >> republicans want to solve this problem by getting the spending line down. the president wants to pretend the spending isn't a problem. that's why we don't have an agreement. >>> president obama remains hopeful that a deal will get done. he he told a cbs affiliate that he's willing to do a lot more in cuts and spending, i seas,
guest host, contributor dan greenhouse, a chief global strategist with btig. he's going to be with us throughout the program. and merry christmas. and -- >> same you to, as well, sir. and other holiday greetings. >> we don't pay you a lot for cnbc contributor, do we -- did we order you to be here? >> i'm contracturally obligated to not specify anything. >> not specify anything? here at 5:30 and all the way to 9:00. >> i knew that there would be trouble this morning. i got myself seated -- >> good. we'll squeeze you for everything you're worth. we needed a big name. >> big name. we got one. >> it day after -- for december 26. >> you're too kind. >> then here you are. >> here he is. >> what did you get? anything good? >> i have -- >> switch, lump of coal? >> he's a hanukkah guy. >> a lump of coal -- yes, but a lump of coal at some point probably worth something. tet rate we're going. >> that's right. you're -- no tree? >> i want a tree, my wife says they're too messy. >> the trees are messy. >> the needs needles -- >> you have the festivus pole. >> grievances -- >> you better go, sorry.
against the u.s. skimping on care. host: this from sasha -- guest: that is one proposal that gets floated by democrats. medicare part d bargains for drugs. i do not know -- i do not think it would be a cure all, the one proposal that would fix everything. democrats think it would reduce the cost of medicare. host: is there a plan b? guest: we have seen them as the january 1 deadline before and get 30-day extensions. at some point they were working without an extension. medicare told doctors to hold off on submitting your claims for a little bit. that is a situation we have ended up in before. if we're talking months, we're talking about big pay cuts for medicare doctors. that would be uncharted territory. host: joe from arizona on the republican line. caller: good morning. if we look at it logically, sarah is on the right track. we have become a society with honesty as a technicality. you can get more money but you break the law. our society -- you need to stop your people on the show, politicians and say, i asked you a question and you didn't answer it. this is why the doctors in medicar
it is embarrassing to compared government funding for amtrak with u.s. government funding for domestic aviation and highway speed passenger >> to build and maintain one of the best highways systems in the world, we've spent $114 billion and built it over 45 years and today it would be $126 billion. con jex on our roads are at historic levels and by 2020 urban interstates will be at or over capacity. and anyone who has had the pleasure of flying recently they know the problems that plag our nation's airport ch airports, in fact, in spite of all this amtrak carries more riders from new york to boston than all other airlines put together. 50% of people that travel this distance. and between washington d.c. and new york city, amtrak carries twice as many passengers as all airlines come bind. today it carries 75% of inner city travel letters between new york and washington. amtrak has done all this with the threat of funding cuts and privatization especially of the profitable northeast corridor hanging over its head. we know that in other parts of the world privatization of hig
asset sales. >> you agree? you remember your name before -- >> that does it for us today. make sure you join us tomorrow. right now, time for "squawk on the street." >>> good morning, welcome to squawk on the street. i'm carl quintanilla, melissaly, jim cramer. nyse euro net selling itself to ice for 8.2 billion in cash and stock. david is here to break it down. >> go through some of the numbers four. the deal itself having been officially announced in the last half hour or so board signing off, call it about 8 a.m. eastern time. my sources tell me this all began a couple of months back when jeffrey spraker, the ceo of ice approached duncan niederauer, the ceo of the stock exchange about a potential deal. looking forward hearing from both men later in the program. as for the deal itself, if you're a new york stock exchange shareholder, mr. spreker built this account the past decade. 36% of the combined company will be controlled by current new york stock exchange shareholders. you get a premium. also an opportunity to participate in the continued growth of what will be a trading ba he m
doing better. it is hard to be terribly bearish on the u.s. >> y are going to stay with our politico expert. this is a rally that has surprised experts. it hasn't been that easy to be optimistic. >> it is. i think you have to be cautious here. the probability that this could fall apart is very, very real. >> so, you have to be careful up at these levels as a trader. i have low exposure up here. i have protection. that is how you have to play this market. stay with us please. >> yesterday it looked like washington was inching towards a deal. but today, plan b could be signaling differences. we have karen b and sara fagan herself a former political director. i know what it means. no tax rates above $1 million. no tax hikes but why did bay nor decide to do that. what signal is he sending? >> i think what he is telling the president is look, i appreciate you coming around on this, i appreciate you giving, it is not enough. and i'm going to go to the floor and show you, that $400,000 is not a deal republicans are going to accept. the other thing that occurs that, is it is important for hi
's a shortened trading session for christmas eve. u.s. equity markets will close at 1:00 p.m. eastern time. bond currency and commodity trading they're going to end early. in japan, indonesia, the philippines, they were all closed in europe. only the uk, french, dutch and spanish stock markets are open and they're going to be closing early. there are now only five trading sessions left in 2012. get your act together. stocks and bonds, solid gains so far this year. the dow has advanced 8% in total. the s&p 500 up almost 14%. the nasdaq has jumped 16%. it's been a good year. the end of the year also means we are just days away from the fiscal cliff, however, and that's the bad news. and looming tax hikes, spending cuts, all of that. both sides warning a very big deal becoming a bit more unlikely. >> and my one bit of advice to speaker boehner is this. you cannot pass a bill with just republicans. on a broad thing like this, you need both. and he has put himself with plan b and sort of an impossible position. he has to get these hard right goes to go along with him. and he and the president were go
.irs.gov. host: nina olson, welcome back to c-span and thank you for being with us. host: we want to welcome sarah kliff, a health care reporter with "the washington post." as we continue our series, we want to take a look at different aspects of what we can expect as we face the january 1 deadline. we want to talk about the said likely the doc fix. many people say you have to understand the doc fix. guest: it is something we have had since about a decade ago. back in 1997, congress set a formula for how to pay doc fares. it worked for about five years until the cost of health care started growing. what we have seen every year is congress passed a temporary pay patch to make up the difference. every year, we get to the end of the year and there is this impending gap. right now if we do not pass it, medicare salaries will go down by 25%. everyone thinks the doc fix is not a good idea and we should fix it permanently. it is something that we face every year. host: if nothing happens next year, the cost is estimated to be $25 billion. over two years, $41 billion. guest: it is expensive and we a
as difficult as one. we are sorry jeanne could be with us but we're fortunate to have represented schwarz with as representing a dish in philadelphia, and urban philadelphia, vice ranking democratic member on the committee on the ways and means committee. i want to have a conversation, that reflects kind of the dual nature of the to do list that the public can send it in the pulpit on the one hand when you ask them the most immediate challenge in washington today, with the most wanted ashington to do, they to talk about deficit or the debt, getting the fiscal house in order. but that is not the full extent. right behind that is education, retirement, good paying jobs with very different by the way, talk about priorities along partisan and racial lines. let's start with where we are and where the public not surprisingly is on the question of solving the immediate fiscal cliff decision. how would you describe your feeling that there will be some kind of accommodation deals these on the tax or the spending side, or both? >> first of all, good morning. and just, i'm not gene sperling. but i'm
guy. >> he's a good guy. >> ed is going to try to make us slightly -- >> be a little sensitive. let's get you some some of the morning headlines. the biggest one being president obama planning to meet with congressional leaders at 3:00 p.m. eastern time today in a last ditch effort to avoid the fiscal cliff. the house majority leader eric cantor is now telling members to be prepared to work through january 2nd. both sides still far apart, however, on taxes and spending cuts. senate majority leader harry reid says prospects for a deal by monday are still unlikely. there was a lot of movement, motion for not a lot of action. >> where were you yesterday? >> i was here. we were together. >> were we ever with our -- no. but there were duelling senate leaders just -- first mcconnell came on. and he said -- did you see either one of those? >> i did. >> did you see harry reid? >> there's no chance of -- >> but if you think -- i want to rise above. there was so little of anything close to that yesterday other than just the -- i mean, people at home must be like, it's the endless blaming and
. it used to be a staple of small- business lending. you have a track record, a clear plan, they will make you a loan on your ability to pursue that. that is gone. they are in the same boat. they cannot get the loan. >> i am curious from the small business perspective, i think small businesses are coming up a lot right now as we talk about tax rates and making sure you protect small businesses. do you feel the issue is the most crucial for small businesses, or is it things like financing the -- >> rates are important on the tax front for small companies, i think the most important things are having a long-term sense of the code and try to grapple with tax reform to simplify the code. a center of our own polling, yes, they do not like playing -- paying the tax rates. the bigger thing is the burden of complying with the tax code the half. you have to remember small business people pay taxes at individual rates. they do not populate their income the same way individuals do. they have to deal with the business side to see what their tax code is. they also pay the taxes themselves. like most wo
. host: sarah kliff covers health care for "the washington post." thank you for joining us. we take a look at america by the numbers and what america looks like by the year 2016. jennifer ortman and william frey here to talk about america by the numbers. we are back in a moment. >> president obama in the reaction to the connecticut shootings. later, the impacts of the so- called fiscal cliff on tax filings. >> president obama on the school shooting in connecticut. he said the time is not to take meaningful action. he was notified by homeland security advisor john brennan. he ordered flags lowered to half staff. this is about 5 minutes. >> i spoke with governor malloy and fbi director muller. i offered governor malloy my condolences on behalf of the nation and made it clear he will have every resource he needs to investigate this crime, care for theirctimw and families. we have endured too many of these tragedies. each time i learned the news, i react not as a president but as anybody else would, as a parent. that was true today. there is not a parent in america who does not feel the
, and jamie dimon. look at that -- >> in addition we have jerry webb. make us all -- the rest of us feel -- >> we have one -- >> you're an economist or something? you play on to have -- you can think about the 12-12-12 thing in the meantime because you're good at math. >> yeah. all that stuff. >> all right. >>> as we move closer to the edge of the fiscal cliff, every move is being magnified by the markets. president obama and house speaker john boehner spoke by phone on tuesday, exchanging new proposals. the president gave boehner a revised offer on monday, reducing his demand for new tax revenue from $1.6 trillion to $1.4 trillion over ten years. boehner responded with a plan that largely sticks to his original offer a week ago. reports say the white house has told republicans it would include an overhaul of corporate taxes in any budget deal. that hasn't been done before. in an exclusive interview with barbara walters of abc news, president obama says he still expects a deal before the end of the year. >> i remain optimistic that there are enough people of goodwill in this town that re
reading. >> thank you for spending three hours with us. >> thank you. >> i would think all the technical -- it's different this time. i know you've never heard that before. i have a very special announcement, once again. i want to say happy birthday to blake hernon, who is now officially a teenager. 13 years young. >> he'll be voting democratic in five years. >> absolutely. >> "squawk on the street" starts right now. happy birthday, blake. >>> good morning. welcome to "squawk on the street." hope you all had a good christmas. i'm melissa lee. we're live from the new york stock exchange. jim cramer has the day off. the latest s&p schiller home price report has been released. the results being shown at the bottom of your screen. david blitzer will join us with a closer look at the numbers in just a few minutes. let's get a check on how we're setting up on this day after christmas trading session. the dow looking higher by about 15 points. s&p looking at about two points at the open. european markets closed on this day after christmas. the uk and france among those celebrating foxing day. w
's evident in equity markets. >> that does it for us. we hope you have a happy and safe holiday. from all of us here. meantime don't go anywhere, "mad starts right now. >> i'm jim cramer. welcome to my world. >> you need to get in the game. he's nuts. they're nuts. they know nothing. >> i always like to say there's a bull market somewhere. "mad money," you can't afford to miss it. i'm cramer. welcome to "mad money." people want to make friends. just trying to save money. my job isn't just entertainment, it's education. call me. fiscal cliff talks. let's be optimistic. use the word stall. the president gave us a little hope tonight that an agreement to avert a middle class tax hike could still occur next week. saw the breakdown play hideously in the session today. nasdaq diving. it makes sense the market got a whacking when you consider that the speaker of the house didn't have enough votes in his own party to push through any tax increases and the president says there's got to be some. that's even for people making more than a million bucks. it was for show. the president would have vetoe
over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. [clock ticking] >> i pay the bills around here, so i'm gonna set the expectations. >> howard weyers is the boss; to some former workers, the boss from hell. if random tests find one of his workers has been smoking, he or she is fired. increasingly in the american workplace, big brother, or big boss, is watching you and your private life. >> what's important? this job-- and this is a very nice place to work--or the use of tobacco? make a decision. [clock ticking] >> americans work longer hours than nearly anyone in the developed world, even the japanese. >> good morning, everyone. >> for many professionals and corporate managers... >> super, super, super-duper hot. it's crazy. >> the 40-hour work week is history. >> daddy! >> okay, hold on just a minute. >> 60-to-80-hour work weeks are now the norm. >> you don't think you're working too much? >> no. >> do you?
appreciate it very much. join us on wednesday. happy holidays. "squawk on the street" starts right now. >> can't wait to see what jason got us here. welcome to "squawk on the street" on this final trading day before christmas. i'm carl, with melissa lee, david faber at the nyse. the new york stock exchange and nasdaq closing at 1:00 p.m. eastern time. the futures, a little bit of weakness here which we'll talk about in a minute, after it comes after a pretty bad day on friday. the european markets closed for the christmas eve holidays. london, paris, spain have each completed shortened sessions in light of the christmas holiday as well. the friday sell-off, only five trading days are left in the year. is the market getting used to the idea that a fiscal cliff solution will not happen before year end? >> only a few hours remain to finish your christmas shopping. but some words of caution for toymakers. are tablets and apps ruining the season as kids get more accustomed to technology? >> microsoft windows 8 gets more bad press today, as "the new york times" said it is not leading to a bo
's take a look at the u.s. futures set up for the open first of the week. dow looking at about 50 points right after the open. as for the action in europe, taking its cues from the united states. we'll see a big rally in china extending one of its biggest rallies in three years. we have a mixed bag in europe with italy up by about .2 of 1%. >> we'll do our best to keep focused on the business day. we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionaires. could this be the tipping point. moving the talks beyond deadlock. >> a big week for earnings. yes,
from almost every bank. we were in a 1932 situation. >> because of everything else around us. we were focused on congress' ineptitude at that time. and we got more scared by their unwillingness to pass the t.a.r.p. >> i have tremendous faith in our economy. we had great numbers yesterday. we had a good head of steam in housing and durable goods. >> better than expected at least. >> i think you could cool the economy a little bit. but unlike 2008, where i was worried that my paycheck wouldn't cash and my bank would fail, unlike the debt ceiling -- >> i know that. i'm saying it is a very, very different time now, no doubt about it. the only thing being we're relying on our leaders in washington to try to craft some sort of solution. >> did you have quotes around the word leader then? i'm only watching your lips. if you were to type that, would there be quotes around leaders? >> yes. >> thank you. i rest my case. >> i'm willing to take those quotes off. >> if they show that they are truly leaders without quotes. >> i come to work every day, my tallahassee paycheck, still in my wallet. i
, in general. but i think that the conclusion of the housing crisis is upon us. which means there will be more money going to building and fixing up homes in 2013 than there was in 2012. so that means there will be up comparisons, and that's good. there will be sure to buy housing-related play into the fiscal cliff jump if we get one next week. oh, and i'm including banks. they've really taken off here, too. in large part that is because the housing crisis is over. how about the rest of the world's growth? not that long ago we heard very smart short sellers write off both china and europe it was on a year ago that italy and greece would be following in disaster. of course, they subsequently turned out to be the single best places to invest for fixed income in the world. not only did the sky not fall, but you had to do some serious buying to keep up with the others around the world. we have been buying an etf for my travel trust. was there a more uniform agreement than the idea that the euro had to die and the weaker countries were going into a fre depression? we know a ton of countries that co
between the two parties to put it off. put simply, sometimes i think they would rather throw us back into the recession than to betray their principles by compromising. the only way they know how to save the village is to burn it down. given the wanton hardship that beckons if we fall off the cliff and the chance of no deal is possible let alone one that can be reached in a few days time, why weren't we down much more? why weren't we off gigantically? why didn't we detonate? the market reaction brought about a successful t.a.r.p. bill almost immediately tlaf? why didn't we crack? it looks like we couldn't raise the debt ceiling last year, after all, the cliff is every period as horrible as those nightmares, isn't it? there is no easy answer to why we didn't crash today. i heard all day, look off, a gigantic sell-off is right around the corner. i got tons of e-mails last night. i say anything is possible. but i wouldn't count on a sell-off of the magnitude of the previous round. here is why. the western financial world would literally teetering on the abyss. atms that might not have w
Search Results 0 to 27 of about 28 (some duplicates have been removed)